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Assume a Market Price Gets Set Artificially High-That Is,it Gets

Question 70

Multiple Choice

Assume a market price gets set artificially high-that is,it gets set above the equilibrium price.This change means:


A) Every consumer loses surplus, and it all gets transferred to producers.
B) Every producer gains surplus, due to the higher price now being charged.
C) Some consumers drop out of the market, and those left lose some surplus.
D) None of these is true.

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